Renovated to be a ‘Cutting-Edge Workspace’, this Historic Midtown Building and Former Home of Marvel Comics is Ready to Rent
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Rental is underway for a historic 35-story apartment building in Midtown Manhattan that previously housed Marvel Comics and has been remodeled to become a cutting-edge workspace and include post-pandemic amenities for a safe working environment.
Resolution Real Estate announced the launch of leasing on Monday, following a $ 120 million overhaul of the 700,000 square feet, historic landmark on the west side located at 330 West 42nd St.
Post-pandemic work environment equipment includes modernized air quality systems, a wellness center, nine outdoor terraces, collaborative event spaces and a direct outdoor air system, or HVAC, which will improve indoor air quality and thermal control . The building’s industrial framework and character have been preserved during the renovation.
“The tower workspaces are specially designed to meet the needs of today’s tenants after the pandemic with abundant natural light, high ceilings, open layouts, outdoor terraces and top-notch amenities,” Dan Shannon, Partner, MdeAS, said in a Resolution Real Estate press release.
The direct outside air system circulates fresh outside air throughout the building and the operable windows and outside space also help provide fresh air.
“It’s a building that breathes,” said Scott Klau, vice president of Newmark.
An opportunity to “create a real headquarters”
Resolution, a New York-based asset management firm specializing in office repositioning in Manhattan, is leading the renovation and leasing effort. The firm assembled a team comprising MdeAS Architects and a Newmark team led by Brian Waterman and Scott Klau.
“The reinvention of this historic property brings to the market one of the most extraordinary perspectives for companies looking for a true head office opportunity,” said Klau. “The establishment offers an unparalleled environment allowing employees to collaborate in modern spaces equipped with state-of-the-art equipment.
Resolution and his team anticipate securing an anchor for the building by the second quarter of next year, Klau said.
“The beauty of this building is that it’s completely vacant, so we have the opportunity to really reinvent the building,” Klau said. Adding: “Because it’s a vacant building, it’s an incredible branding opportunity where we can give an extraordinary identity. We have a blank canvas to create a real head office opportunity for a forward thinking company. “
The building has been divided into low-rise, mid-rise and high-rise floors with varying office layouts, the statement said. The office spaces are industrial and the floor plates range from 20,000 to over 30,000 square feet.
The 7 to 12 foot tall windows provide natural light and views of Midtown, Lower Manhattan and the Hudson River. The building also includes lounges, conference rooms and a prime location for access to public transport.
“What you have is the best of both worlds,” Klau said. “You have slab heights and window heights that correspond to new construction, but you have the character of an old building. When you combine that with the equipment we build, which is on a large scale, there really isn’t any offering like this on the market.
The historic property was once home to the McGraw-Hill Publishing Company and Marvel Comics. It was built in 1931 by architect Raymond Hood. The building became a National Historic Landmark in 1989.
“Raymond Hood’s McGraw-Hill Building was the most progressive property when it was completed in 1931,” Dan Shannon, partner, MdeAS said in a press release. “Almost 100 years later, and with the planned major rejuvenation project underway, the building is once again on its way to becoming a modern marvel.”
The lobby has been completely modernized, according to the statement. It has a 35 foot atrium among other amenities.
“It (the building) is definitely avant-garde and market leader in terms of equipment package, which is why we believe that we will be very successful in our rental process and secure our anchoring which is our objective in this moment, “Klau mentioned.
Resolution Real Estate is known to “make much-needed infrastructure and equipment improvements that make historic buildings relevant for modern use,” the statement said. “The facade of the building, made up of blue-green terracotta panels with green metal framed windows, underwent extensive and meticulous repairs to restore Hood’s original vision and design. Meanwhile, the renovated interior spaces are equipped with all of the design features required by 21st century businesses.